How You Can Use Your Smartphone to Save Money

First Posted: Apr 23, 2021 05:08 PM EDT
How You Can Use Your Smartphone to Save Money

(Photo : How You Can Use Your Smartphone to Save Money)

We all think of our phones as a device that takes money out of our pockets rather than put money in to them. The truth is that smartphones, when used correctly, can be used to help you make and save money. Interested to hear more? We're about to share four ways you can use your phone to save money.

Lower Monthly Expenses

Your smartphone is a powerful tool when it comes to highlighting areas in your monthly expenses that need to be worked on. Let's look at some examples. Do you have student loans with high repayments that are getting you down? You may have the option of consolidating those loans into one with a private lender. Most sites have a student loan consolidation calculator where you can determine the exact figure you'll have to pay. 

Now let's look at the energy provider you're using and how many units you're consuming. Take out your phone and Google competitors - are they charging more/less per unit? You can also use a comparative site to determine your best option. Just input your details and the site will tell you the best provider based on those specifics. Getting your phone working for you in this way could end up saving you hundreds of dollars every month. 

Effective Budgeting

Would you say you're poor at money management? Your phone will be your new best friend as it holds the key to effective budgeting. Take time to research the most popular budgeting apps and choose the one that suits you best. The benefits of these apps are literally life-changing. You'll enjoy real-time information all in one place. You'll have more clarity on your income and expenses and it will be much easier to determine areas for improvement in terms of spending and saving. It may even make you think twice when it comes to impulse buying and that can only be a good thing.

Search for Bargains

Is there anything worse than buying something in a store only to come home and find out that it was on sale with 50% off online? Make a conscious effort to check your phone for items online before you head out shopping as getting in the habit of doing so will save you a considerable amount of money. You should also check online for specials that are coming into the brick and mortar where you regularly shop. Check their websites and be sure to sign up for any reward systems or bonuses that they're offering. 

Fitness Friend

Your phone could be your new fitness friend. That's right, use it to download workout apps such as ClassPass and Freeletics for free workouts you can do from home. Use YouTube for endless yoga and Pilates classes and sign up to your favorite content creators for free members training. Tracking your progress is made easy too with apps like Strava and MyFitnessPal. The best thing about these apps is they're all free to use. All of this makes it so much easier to get out of paying exorbitant gym membership fees that you simply don't get value from. 

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